Bangalore, Nov 13 (IANS): Ardex Endura India Ltd, a 50:50 joint venture between Germany's Ardex group and Prism Cement Ltd, Wednesday commissioned its euro 5-million (Rs.43 crore) plant on the city's outskirts to manufacture tile fixing adhesives.
Flooring and allied products will also be manufactured at the plant.
"The plant has a production capacity of 180,000 tonnes per annum, with a liquid plant to manufacture waterproofing and industrial flooring needs in the Indian market," Ardex managing director Gopinath Krishnan said on the occasion.
The hi-tech plant manufactures a range of construction chemical products to diverse sectors such as construction, industrial, infrastructure, repair and renovation and decoratives.
"The new plant will be a one-stop contact for client requirements as it is strategically located in one of the fastest growing regions where construction chemicals are used extensively," Krishnan said.
The plant has an in-house research and development (R&D) facility to develop market specific products and new products based on technology transfer from Ardex entities worldwide.
"Though the construction chemicals industry is growing rapidly, the usage of its products is small as compared to other countries. We hope increased awareness and adoption of modern practices will help the market to grow over the years," Prism managing director Vijay Aggarwal said.
As a leading supplier of specialist building materials, the euro 485 million ($650 million), Ardex group generates 70 percent of sales revenue from outside Germany.
"For over six decades, we have been supplying high-quality construction chemicals worldwide and became a premium partner in the building sector," Adrex chief executive Mark Eslamlooy recalled.
Noting that dip in demand caused by the current downturn was not sustainable for long, Krishnan said the joint venture would stay invested to consolidate its market position, by setting up another plant at Durgapur in West Bengal in 2014.
"We are looking forward to expand our JV and secure our growth strategy with additional investments," Krishnan said.